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Talent Management and identification

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A Project report on “Talent Management Survey” In

COMPANY Ltd.

 

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ACKNOWLEDGEMENT Words put on paper are mere ink marks, but when they have a purpose there exist a thought behind them. I too have a purpose to express my gratitude towards those individuals without whose guidance the project would not have been possible.

I would like to express my thanks to Mr. G. M. Pitale (Head Personnel Division), COMPANY Ltd. Who has kindly permitted me to undertake the project in the organization.

I am also thankful to Mrs. Alka Jadhav and other members of the organization for their  support and providing the required information.

It was a pleasure to be associated with COMPANY Ltd. The experience that I have garnered has had a profound impact on my career choices and has helped me realize what is requisite for success in the corporate world. I carry high regards for the complete team of  COMPANY Ltd.

I also take this opportunity to express a great sense of gratitude towards our Director, Dr. B. B. Rayate and internal project guide Mrs. Manisha Gaikwad for providing me vital inputs to co-relate the present project work and hence provide a sound base to the report structure. A special word of thanks also goes to all the teaching and non teaching staff of my institute and my Friends. Date: 07-11-09

Amol B. Kasar 

 

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DECLARATION

I hereby declare that this Project Report titled Talent Management submitted by me is based on actual work carried out by me under the guidance and supervision of Mrs. Manish Gaikwad. Any reference to work done by any other person or institution or any material obtained from other  sources have been duly cited and referenced. It is further to state that this work is not submitted any where else for any examination.

K. R. Sapkal college of Management Studies.  Studies.  Kalyani Hills, Sapkal Knowledge Hub, Anjaneri-Wadholi, Anjaneri-Wadho li, Trimbakeshwar Rd, Nashik-422212. Tel-(02594) 220165.

 

Signature of Student

Amol. B. Kasar

Date: 07-11-09

 

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CERTIFICATE FROM THE GUIDE

This is certify that Amol Bhagwan Kasar has completed the Project Report on Talent Management under my guidance and supervision , and submitted the report as laid down  by Pune University, Pune. The The material that has been obtained from other sources is duly acknowledged in the report. It is further certified that the work or its part has not been submitted to any other university or examination under my supervision. I consider this work worthy for the award of the degree of Master in Business Administration.

K. R. Sapkal college of Management Studies.  Studies.  Kalyani Hills, Sapkal Knowledge Hub, Anjaneri-Wadholi, Anjaneri-Wadh oli, Trimbakeshwar Rd, Nashik-422212. Tel-(02594) 220165.

 

Signature of Guide

Name:

Date:

 

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Talent Management Survey Index Sr. No.

1

Contents

Chapter 1: Introduction 1.1 1.2 1.3 1.4 1.5 1.6

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Page No. 7-11

Object of of tth he pr project In Inttroduction o off study Objec jectives of of tth he st study Rationale of the st stu udy Scope of of tth he Pr Project Limitat tations of of tth he St Study

Chapter 2: Research Methodology

12-17

Review of literature Research Design and sample size 2.3 Primary and secondary data and its sources 2.4 Statement of hypothesis

3

Chapter 3: Profile of the Organization

18-25

3.1 Introduction of the organization 3.2 Network/Products/Branches of  organization 3.3 3.4

4

Flow Chart of the organization Mission of the organization

Chapter 4: Introduction of Talent Management 4.1 Introduction of Talent Management 4.2 Talent Management v/s Traditional HR  Approach 4.3 Understanding Talent 4.4 Human Capital Management

26-30

 

Sr. No. 5

Name of Chapter Chapter 5: Talent Management

Page No. 31-42

5.1 Meaning Meaning and and Definiti Definition on of of Talent Talent Managem Management, ent, Importance of Talent Management. 5.2 Challe Challenge ngess of Talent Talent Manag Manageme ement, nt, 5.3 5.3 How How to Mana Manage ge Tal Talen ent? t? 5.4 Steps involved involved in Talent Talent Management Management Process Process 43-49

6 Chapter 6: Performance appraisal 6.1 What is Performance appraisal? 6.2 Methods of Performance appraisal 6.3 How performance appraisal conduct in Company Ltd.

50-60

7 Chapter 7: Career Planning 7.1 Meaning, Definition and procedure of Career   planning, 7.2 Benefits of Career Planning, 7.3 How implement career planning in Company Ltd, Nasik. 7.4 Succession Planning: Meaning, Definition Importance. 7.5 Implementation in Company of succession  planning.

61-69

8 Chapter 8:  Training and Development 8.1

Training and development: Meaning, Definition, Procedure, method. 8.2 How training is necessary for Development 8.3 Method of training 8.4 How training training is conduct in Company Company ltd. Nasik? Documentation and procedure for training in Company ltd. Nasik.

9

10

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Chapter 9: Conclusion and testing of  hypothesis Chapter 10: Suggestions and recommendations

Appendices I Questionnaire II Bibliography

72-80

81-85

86-89

8

 

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Chapter 1: Introduction

Chapter 1

 

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1.1

Introduction of the study Talent Management

Talent management implies recognizing a person's inherent skills, traits,  personality and offering him a matching job. Every person has a unique unique talent that suits a particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with  prudence and caution. A wrong fit will result in further hiring, re-training and other  other  wasteful activities. Talent Management is beneficial to both the organization and the employees. The organization benefits from: Increased productivity and capability; a  better linkage between individuals' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between  people's jobs and skills. Employees benefit from: Higher motivation and commitment; commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction. In these days of highly competitive world, where change is the only constant factor, it is important for an organization to develop the most important resource of all - the Human Resource. In this globalize world, it is only the Human Resource that can  provide an organization the competitive edge because under the new trade agreements, technology can be easily transferred from one country to another and there is no dearth for sources of cheap finance. But it is the talented workforce that is very hard to find. Talent signals an ability to learn and develop in the face of new challenges. Talent is about future potential rather than past track record. So talent tends to be measured in terms of having certain attributes, such as a willingness to take risks and learn from mistakes, a reasonable (but not too high) level of ambition and competitiveness, the ability to focus on ‘big picture’ issues, and an awareness of their  own strengths, limitations and impact on others. Several talent management processes need to be in place on a strategic level in order ensure its success. Such processes/strategies include talent identification, recruitment & assessment, competency management, performance management, career development, learning management, compensation, succession planning etc. Talent management has a number of benefits to offer such as employee engagement, retention, aligning to strategic goals in order to identify the future leadership of the organization, increased productivity, culture of excellence and much more.

 

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1.2 Objectives of Study:In the current scenario of cutthroat competition, every company has to survive to satisfy its customers by providing them quality products and services. The summer  training at Company, was undertaken with a view to study certain fundamental as well we ll as th thee co comm mmerc ercial ial an and d op opera erati tion onal al aspect aspectss of th thee co comp mpan any y. The The trai traini ning ng involved the study of the following:



To understand the entire procedure of Talent management



To understand the need of Talent Management



To stud study y the the accu accura racy cy and and qual qualit ity y of work work of empl employ oyee eess by ta tale lent nt management procedure.



1.1

To suggest possible improvement in Talent Management process.

Rationale of the study

 

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The ‘talent’ in an organization refers to the current employees and their valuable Knowledge, skills and competencies. Talent management (or succession management) is the ongoing process of analyzing, developing and effectively utilizing talent to meet Business needs. It involves a specific process that compares current talent in a department to the strategic business needs of that department. Results lead to the development and implementation of corresponding strategies to address any talent gaps or surpluses. Talent management for the HR Community is a priority of the HR Strategy for  the HR Community. Not only does the HR Strategy support the HR Community as its own professional group, but it also recognizes and will support the role human resource professionals have to help their clients become skilled, committed and accountable public servants. The implementation of a talent management process that is transparent and equitable is expected to create an environment for people to develop their skills in preparation for a range of future possibilities thereby preparing the workplace for changing roles. The goal of this process is to map the business needs of the HR Community with the potential and career development needs of our   people in order to develop a comprehensive Talent Management Plan.

1.2

Limitations of Study:-

 

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1) All the functions are only related with the the personnel department. 2)

Limitation about about the working working hour of the worker worker in the factory.

3) Limitation about the time and absenteeism. 4) Company not allowing to disclose confidential information 5) Time factor factor was the major major limitation limitation of of this survey. survey. Because Because during during survey survey any activity of organization which is directly or indirectly related to the  production process should not disturb due to survey.

Object of the project: This “Talent Management” Project I completed completed from Company, Company, For the fulfillment of the full time course of MBA of Pune university for the year 2009-2010. In Company I made research on Talent Management process because company want to know that, is it talent management is really beneficial for them or not. I proved them that talent management is really beneficial for company by doing this project. I completed this project because it was a requirement of our MBA full time course. I learned various things in this project, like audit, SAP HR module, personal administration. Etc.

 

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Chapter 2: Research Methodology

 

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Chapter 2: Research Methodology Review of literature  

TALENT MANAGEMENT V/S TRADITIONAL HR 

APPROACH Traditional HR systems approach people development from the perspective of  developing competencies in the organization. This can actually be a risk-prone approach, especially for companies operating in fast evolving industries, since competencies become redundant with time and new competencies need to be developed. Thus, over time, the entire approach to development of people might be rendered obsolete calling for rethinking the entire development initiative. Talent management on the other hand focuses on enhancing the potential of people by developing capacities. Capacities are the basic DNA of an organization and also of  individual potential.

  D   N

Point of Departure Navigation

 

A

Point of Arrival

In fact, the following appropriately describes the role of talent management:

Translating organizational vision into goals and mapping the required level of  capacities and competencies to achieve goals aligning individual values and vision with organizational values and vision. Clear understanding of the varied roles within the organization and appreciation of the value-addition from self and others leading to building a culture of trust, sharing and team orientation. Assessment of talent to profile the level of capacities and set of competencies  possessed within the organization.

Enhancing capacities to learn, think relate and act through development initiatives. Individual growth to meet and accept varied incremental and transformational roles in

 

16 an overall scenario of acknowledged need for change.

Gap analysis and identification of development path helping individuals realize their  full potential through learning & dev. Developed individuals enabling breakthrough performance

4.3 Understanding Talent The idea of developing talent is not a new concept in any business. In fact every successful company that has 'stood the test of time' has done so, Because of  their ability to attract, retain and get the best out of their talent. Today we read of a 'war for talent’. This has emerged, not because companies have forgotten about talent, or allowed it drop off of the radar but, because in some fundamental ways, the talent has changed. We have a new kind of young person entering the business world, with a very different world view, set of values, priorities and goals.

Focus 1: Attracting and recruiting Talent:   In order to effectively attract and recruit talented employees you need to understand what talent is looking for in a career and how they will view your business in terms of fitting in with their needs. needs . Your approach to each one of your potential recruits needs to be altered to suit that they are. By examining this through the perspectives of the different generations, we are able to look at their attitudes to work what kind of career, organization and benefits they are looking for and know what kind of techniques will ensure that your recruitment  process is successful in each generational context. This focus unit looks at the following: o o o o o

o

attitudes to work  career goals views on organizations and how they are currently run what benefits each generation is looking for  Techniques to attract the different generations: what will make your  organization stand out? Techniques to recruit the different generations: how should the job offer be  presented?

 

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Focus 2: Retaining and developing Talent In order to effectively retain and develop Talent you need to understand what the generations are looking in a future career and in an organization. Your approach to each one of your employees needs to be altered to fit individual goals and personal needs.

This focus unit looks at the following: o o o o o

w work ork ethics and values career planning career work environments and culture work   benefits and reward systems ways ways of motivating

Focus 3: Managing Talent An in depth look at how the generations internalize authority will enable you to adjust your management style to fit in with who they are. We are able to look at the attitudes of the different generations to leadership and management; what kind of management approaches will ensure that you gain maximum loyalty, productivity and job satisfaction from each of your employees.

This focus unit looks at the following: o o o o

o

   How How to

a attitudes ttitudes to authority management management styles for the different generations including conflict management leadership styles used by the different generations leadership specific techniques to help you manage different generations specific including communication and feedback preferences c coaching oaching and mentoring preferences including  The The role of coach The coaching process  The

plan for and create conversations

  Research Methodology Research Methodology is a way to systematically solve the research problems. It may be understand as a science of studying how research is done scientifically. In it

 

18 we are studying his research problems along with the logic behind them. It is necessary the researcher to know not only the research method techniques but also the methodology.

Types of Research:It is descriptive type of research. Descriptive Research survey and fact finding inquiries of different kind. The major purpose of descriptive research is descriptive the state of affairs, as it exist at present. The main control over the variable; he can only report what has to discover the even when there he cannot the variable. The methods has to researcher utilized in descriptive research are survey methods of all kind.

Data Source:The source of project depends on accurate data. That’s why data collecting the appropriate data, which differ considerable in context money, cost, time and other  resources at the disposal researcher. There are two types of data collection methods available:1) Primar Primary y Data Data Colle Collectio ction n Method Method.. 2) Second Secondary ary Data Data Coll Collecti ection on Metho Method. d.

 

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2.3  Primary And Secondary data 1) Primary Primary Data Data Collectio Collection n Method Method.. Primary data are those that are obtain by the user for fulfillment their purpose. I have taken Primary Data through personal visit of HR h head, ead, and HR executive, of  Company Ltd. At all levels and observation methods to get more reliable information. I also collected primary data by filled, ‘Yes’ or ‘No’ format questionnaire by the employee of Company, Company, This data helped me to justify the statements that have made in this project.

2) Secondary Secondary Data Data Collection Collection Method. Method. The Secondary Data is that which is already collected and stored or we can say already saved or ready data by others. I got secondary data from their journals, records, specimen of appraisal form etc. And from newspapers magazines, articles, internet etc I got basic information of Talent Management. I collect secondary data by referring some specimen of company and by referring some books and web sites of  company from internet.

 

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2.4 Statement of Hypothesis Hypotheses are the essential assumptions which the researcher formulates about the possible causes, findings and ultimate output of the issue in under research. Under hypotheses mere assumptions or suppositions are made which are to be proved or disproved. For researcher it is a formal question that he intends to resolve. A hy hypot pothes heses es consist consist either either of a suggest suggested ed explan explanatio ation n for a phenom phenomeno enon n or of a reasoned proposal suggesting a possible correlation between multiple phenomenon. The assumptions be true or false are to be proved through the completion of project.

The hypotheses for this project are as follows: Null Hypothesis:  Employee taking benefits from Talent Management System  Employee can retain successfully for the benefit of organization  Employee’s performance increased by talent management  Employee turnover of organization affected by Talent Management Procedure

Alternate Hypothesis: 

  Employee are not able to take benefits from Talent Management System



Employee can not retain successfully for the benefit of organization



Employee’s performance can not increased by talent management.



Talent Management is not affecting on employee turnover of organization

 

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Chapter 3: Profile of the Organization.

 

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3.1 History of Company

Founder of Company-Werner von Company  Born- 13 Dec. 1816 to 6 December December 1892 Company was founded by Werner von Company on 12 October, 1847. Based on the telegraph, his invention used a needle to point to the sequence of letters, instead of  using Morse code. The company – then called Telegraphen-Bauanstalt von Company & Halske – opened its first workshop on October 12. In 1848, the company built the first long-distance telegraph line in Europe; 500 km from Berlin to Frankfurt am Main. In 1850 the founder's younger brother, Sir William Company (born Carl Wilhelm Company), started to represent the company in London. In the 1850s, the company was involved in building long distance telegraph networks in Russia. In 1855, a company branch headed by another brother, Carl von Company, opened in St Petersburg, Russia. In 1867, Company completed the monumental Indo-European (Calcutta to London) telegraph line. In 1881, a Company AC Alternator driven by a watermill was used to power the world's first electric street lighting in the town of Godalming, United Kingdom. The company continued to grow and diversified into electric trains and light bulbs. As Werner had envisioned, the company he started grew from strength to strength in every field of electrical engineering. From constructing the world's first electric railway to laying the first telegraph line linking Britain and India, Company was responsible for building much of the modern world's infrastructure. Company is today a technology giant in more than 190 countries, employing some 440,000 people worldwide. Our work in the fields of energy, industry,

 

23 communications, information, transportation, healthcare, components and lighting has  become essential parts of everyday life. While Werner was a tireless inventor during his days, Company today remains a relentless innovator. With innovations averaging 18 a day, it seems like the revolution Werner started is still going strong. In 1890, the founder retired and left the company to his brother Carl and sons Arnold and Wilhelm. Company & Halske (S&H) was incorporated in 1897. In 1907 Company had 34,324 employees and was the seventh-largest company in the German empire by number of employees. In 1919, S&H and two other companies jointly formed the Osram lightbulb company. A Japanese subsidiary was established in 1923. During the 1920s and 1930s, S&H started to manufacture radios, television sets, and electron microscopes.

 

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3.3 COMPANY AG - A Strong Global Presence Company is a world-class supplier of electrical and electronics products and system serving one of the longest and most diversified markets worldwide. Company Ltd. in India is a subsidiary of Company AG, Germany. Company AG have been closely involved with developments that are at the leading edge of electrical and electronics engineering ever since the pioneering inventions of the founder of the company – Werner Von Company. Company strength, acquired over many decades of pioneering research and  practical experience, lies in the development of advance technologies and in their  timely application to a wide range of high Quality, Innovative and cost effective  products. As a global company, Company Company have manufacturing, sales and services facilities in more than 170 countries. Employees worldwide in the offices, factories, laboratories and service organizations total to about 3, 90,600. All committed to  providing the highest standards of technological competence that Company has has been a synonym for, right since inception. In today’s fiercely competitive business environment, corporate strength can  be achieved and maintained only with a strong base of highly highly qualified and motivated employees. Qualified professional training however provides merely the basis for a successful career. Changes in technology and the business environment occur so rapidly that know-how and skills must be employee constantlyatupdated, enhanced or completely supplanted. Each year more than 150000 Company AG participate in over 20000 seminars and courses designated to none professional and personal skills. While 10800 trainees are undergoing training in manufacturing, technical and commercial trades.

 

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3.4 Company in India Company association with India began in 1867 when Werner–VonCompany personally supervised the laying of the first sub marine telegraph line  between Calcutta and London. This historical event marked with the beginning beginning of a long and fruitful association. Company and India have grown together. In making the country’s priorities its own, Company has put its experience and expertise in areas of  national importance. Company have played an active role in the technological  progress experienced in the last four decades. Company grew out of a response to the needs of the nation. Today Company involvement reflects the current trends in electronic and electrical technology in switchgear, motors, drivers, automation systems, power generation and distribution, projects, transport, medical engineering, communications and components. Company have about 8000 employees in India and an extensive network  which includes 10 works, 3 training Centers (Units), 7 sales  sales  offices, 23 representative, 300 dealers, System houses and Service Centers, all geared to meet the requirement of  customer. Being closely associated with our principals Company AG, Germany gives Company in India access to the world’s latest developments in every field. This Combined with its experience in India makes Company the ideal partner for  catalyzing the country’s progress.

 

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3.2 Company Product Founded in 1847 at Berlin, Prussia Founder(s) Werner von Company Headquarters Headquarte rs at Berlin and Munich.

Products and Services

Communication Systems

Automation

Power Generation

Lighting

 

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  Medical technology

Transportation Transportation and Automotive

 

 

28 Trains and Trams

Water Technologies

  Building Technologies

Home Appliances

  Fire Alarms

IT Services

 

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  Financing

Construction

Chapter 4: Introduction of  Talent Management.

 

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Chapter 4: Introduction 4.1 Meaning Definition With businesses going global and competition becoming intense, there is mounting pressure on organizations to deliver more and better than before. Organizations therefore need to be able to develop and deploy people who can articulate the passion and vision of the organization and make teams with the energy to perform at much higher levels. These people build and drive the knowledge assets of a corporation, the value of  which has been established to be many times more than the tangibles. The capacity of  an organization to hire, develop and retain talent is therefore the most crucial business  process and priority on the CEO’s agenda. The 1990’s ended with a call-to-arms to fight “the war for talent”. While the war for  talent clearly has cooled in the early stages of the 21st century, dampened by economic doldrums & concerns with global security; the rear battle to attract, motivate, development & retain talent is going to heat up considerably. A looming demographic time-bomb will make Talent Management a priority for organizations. A host of issues like: loss of human capital, talent shortages, ageism, and cultural clash has made acquiring & managing talent difficult. Talent Management describes the process through which employers of all kinds –  Firms, Govt., and Non-profit organizations – anticipate their human capital needs & set about meeting Thus Talentinto Management to: getting the RIGHT PEOPLE with the them. RIGHT SKILLS the RIGHTrefers JOBS.

 

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It is a professional term, also known as “Human Capital Management” that refers to the process of developing & fostering new workers through on boarding, developing & keeping current workers & attracting highly skilled workers to work for  your company. Companies that are engaged in Talent Management are strategic & deliberate in how they recruit, manage asses, develop & maintain an organization’s most important resource – its PEOPLE. This term also incorporates how companies drive performance at the individual level. Decisions about Talent Management shape the competencies that organizations have & their ultimate success; & from the perspectives of individuals, these decisions determine the path & pace of careers. We may thus understand that this term is usually associated with competency based HRM practices. Talent Management decisions are often driven by a set of organizational core competencies as well as  position – specific competencies. The competency set may include knowledge, skills, experience & personal traits.

4.2 Human capital management Companies that engage in talent management (Human Capital Management) are strategic and deliberate in how they source, attract, select, train, develop, retain,  promote, and move employees employees through the organization. Research done on the value of such systems implemented within companies consistently uncovers benefits in these critical economic areas: revenue, customer satisfaction, quality, productivity, cost, cycle time, and market capitalization. The mindset of this more personal human resources approach seeks not only to hire the most qualified and valuable employees  but also to put a strong emphasis on retention. Since the initial hiring process is so expensive to a company, it is important to place the individual in a position where his skills are being extensively utilized. The term talent management means different things to different organizations. To some it is about the management of high-worth individuals or "the talented" whilst to others it is about how talent is managed generally - i.e. on the assumption that all  people have talent which should be identified and liberated. From a talent management standpoint, employee evaluations concern two major areas of  measurement: performance and potential. Current employee performance within a specific job has always been a standard evaluation measurement tool of the  profitability of an employee. However, talent management also seeks to focus on an employee’s potential, meaning an employee’s future performance, if given the proper  development of skills. The major aspects of talent management practiced within an organization must consistently include.

 

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• • • •

 performance management leadership development workforce planning/identifying talent gaps recruiting

This term of talent management is usually associated with competency-based human resource management practices. Talent management decisions are often driven by a set The of organizational core competencies as well as position-specific competencies. competency set may include knowledge, skills, experience, and personal traits (demonstrated through defined behaviors). Older competency models might also contain attributes that rarely predict success (e.g. education, tenure, and diversity factors that are illegal to consider in relation to job  performance in many countries, and unethical within organizations).

Chapter 5: Talent Management

 

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Chapter 5: Talent Management 5.1 Meaning and definition Talent management implies recognizing a person's inherent skills, traits,  personality and offering him a matching job. Every person has a unique unique talent that suits a particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with  prudence and caution. A wrong fit will result in further hiring, re-training and other  other  wasteful activities. Talent Management is beneficial to both the organization and the employees. The organization benefits efforts from: Increased productivity and capability; a better linkage  between individuals' and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people's jobs and skills. Employees benefit from: Higher motivation and commitment; career  development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction. In these days of highly competitive world, where change is the only constant factor, it is important for an organization to develop the most important resource of all - the Human Resource. In this globalize world, it is only the Human Resource that can  provide an organization the competitive edge because under the new trade agreements, technology can be easily transferred from one country to another and there is no dearth for sources of cheap finance. But it is the talented workforce that is very hard to find. The biggest problem is how to retain the present workforce and stop them from quitting

 

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Importance First, let us look at some of the reasons for the importance of talent management. •

Globalization:   Now for any jobseeker the whole world is the potential potential place to find employment. One can know the opportunities available in any part of the world easily and the number of talent seekers has also increased.



Increased Competition:  

Increased competition in the market place has necessitated the need for  consistently good performance on the side of organizations. These have made the companies to put in all efforts to hire and retain the best talent in the respective field of operation.



Increasing Knowledge: The knowledge era has necessitated the retaining of those talents which have the ability to assimilate new technologies and knowledge, which are growing at a pace never seen before.

 

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How Talent Management important for an Organization: Organization: 1) Cost cutting: One experienced & skilled employee can replace instead of two or more employees. Organization can save hundreds of thousands of dollars.

2)

Maximum Output Organization can make maximum out put in minimum resources.

3)

Time Saving technique  

It is a time saving technique. Because for every job a skilled person can place. It’s helpful to complete job in minimum time

4)

Perfection iin ncrease Due to skilled employee Perfection in work is increase. There is low  probability of mistakes.

How Talent Management important for an Employee: •

Recruitment  

It’s ensuring that right people are attracted to the organization, due to  providing exposure for there skills. •

Retention  Developing and implementing practices that reward and support employees.



Employee development

  Ensuring continuous informal and formal learning and development. •

Leadership and "high potential employee" development  Specific development programs for existing and future leaders.



Performance management  Specific processes that nurture and support performance, including

feedback/measurement.

 

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Workforce planning 

Planning for business and general changes, including the older workforce and current/future skills shortages.

Culture  Development of a positive, progressive and high performance "way of  operating".

5.2 The Challenge The challenge of talent management has two faces. First is how to find new  people and second is how to retain the present workforce. Each of the challenges has to be tackled in the most efficient way possible so that the organization can achieve its objectives.

The First Challenge - Where to find new talent? All the organizations are finding loads of business opportunities and consequently, their revenues are growing at a rapid pace. The increasing business opportunities has necessitated that these organizations go in for massive recruitment. But, the question is where to find the best talent which is able to fit the job description and also adjust to the organization’s values and norms. If we scan the environment, we find there is a shortage of skilled workforce that can be employed. Some of the possible reasons that have led to the shortage are: Demographic Constraints:

This is a common problem faced by many of the developed countries, where a large chunk of its population is nearing the age of retirement or is over 50 years. USA, Germany and Japan are facing the same problem. All these countries will see a decline in their workforce and talent. In the coming years, they will see a great shortage in their skilled professionals.

Existing Educational System: The graduates and the postgraduates that are being churned out of the universities are found to be ill-equipped to handle the challenges of the workplace.

 

37 They are mostly equipped with only the theoretical aspects of the issues and lack the application part. The educational system is faulty and does not take industry needs into consideration, resulting in a mismatch between industry requirements and educational preparation.

Cost Factor: Recruiting new employees is becoming tougher and tougher in the   developing countries, where the HR department has to sort out thousands of  applications for a handful of jobs. Finding right person for the right job becomes a very difficult process. It also involves very high cost to conduct the recruitment and selection process for such a large population of applicants.

Attracting the Best Talent:  This is another challenge. As was the case in the past, the best available talent is not just motivated by the name and fame of the organization. Not any more. They have a new set of motivators like - challenging work, conducive work environment and freedom from bureaucratic structure.

The Second Challenge - How to retain the existing employees? Gone are the days when a person would join an organization in his mid-20s and would work till his retirement in the late-50s. Today the young professionals hop jobs, especially during the first 4-5 years of their work life. Though the Indian service industry is basking in the light of outsourced jobs from the developed countries, they also cannot ignore the fact that the BPO industry is also facing one of the highest attrition rates, in fact never heard before in India, of around 35%. It is a fact that it’s the people that add value to organizations. It is also a fact that humans are a restless species who, unlike the immovable Banyan Tree, cannot stay rooted in one place. People need to move on for one reason or another, and the organization stands to lose.

Let us look at some of the reasons behind the massive attrition rates: -

1. Gap between between organiz organization ational al values values and goals goals and and the persona personall values values and goals is one of the major reasons of the attrition rates. If they go parallel, there is no way both would be satisfied and inevitably, the organization would lose out on a talented employee.

2. Working Worki ng environm envi ronment ent is aanother ano ther major majorwork factor. Emplo Employees yeesFailure in the the knowledge knowl era demand creative and democratic environment. on theedge part

 

38 of the management to provide such an environment will result in a talented employee leaving the organization.

3. The competit competitive ive world world has made made sure that that there there is high high work pressure pressure on the the employees of any organization. This has led to psychological problems like stress, in extreme situations, total burnouts. It also leads to other health relatedand problems.

4. Movement Movement for higher higher salary is also common common among among the young younger er professionals professionals.. There is no shortage for organizations who are looking for talented employees and who are ready to shell out a hefty salary for a talented person. Other lures like better job opportunities, higher posts and overseas assignments are also major factors in the attrition rates.

5. Not taking taking proper proper care during during the the recruitment recruitment and selection selection process process and not not taking proper care to fit the right person to the right job also breeds dissatisfaction among the employees.

6. Bad or opaque opaque policies policies from management management on issues of of succession succession planni planning ng and promotion, appointments for senior positions also is a major factor which makes the organization lose out on the talented employees.

7. The professio professionals nals have have different different aspiration aspirationss at different different times times of their their career. career. During the initial years, they have good salary and foreign assignments. Next on thefor list is working on cutting So edge technology. seasoned professionals look learning opportunities. employees tendMore to move to those organizations which provide them with means to fulfill their aspirations. Retaining the present employees is of the foremost importance to the organizations  because; the company would have already incurred heavy costs in the form of training and development. Now if the organization has to look for a replacement for the employee who has left, it involves a lot of costs like - hiring costs, training costs and the induction costs. Also it takes some time for the new employee to adjust to the new work environment. During this time the productivity of the employee will be low. The HR department will have to fit the new employee into a proper role in the organization. Apart from causing the company a monetary loss and breaks in their day-to-day operations, attrition contributes to knowledge transfer, which is a great loss and adversely affects  business.

 

39

5.3 How to Manage the TALENT? It is now proved beyond doubt that, in the era of technology and knowledge, talent is in the driving seat. One who possesses it dictates. Not he who pays for it. It is the demand of the time that business leaders elevate management of talent to a burning corporate priority. It is not a walk in the park for the talent market. Quality people are no longer available in plenty, easily replaceable and relatively inexpensive. These are some of the measures that should be taken into account to hire and retain talent in the organization, to be efficient and competitive in this highly competitive world: -

Hire the Right People: Proper care must be taken while hiring the people itself. It would be beneficial for  an organization to recruit young people and nurture them, than to substitute by hiring from other organizations. Questions to be asked at this stage are: Whether the person has the requisite skills needed for the job? Whether the person's values and goals match with job. those of organizations? In short, care must be taken to fit the right person to the right

Keep the Promises: Good talent cannot be motivated by fake platitudes, half-truths and broken  promises. Unfulfilled expectations can breed dissatisfaction among the employees and make them either leave the organization or work below their productive level. Promises made during the hiring stage must be kept to build loyalty among the employees, so that they are satisfied and work to their fullest capability.

Good Working Environment: It has to be accepted by the organizations that highly talented persons make their    own rules. They have to be provided with a democratic and a stimulating work  environment. The organizational rules must be flexible enough to provide them with freedom to carry out their part of task to their liking, as long as the task is achieved.

 

40 Opportunities should also be provided to the employees to achieve their personal goals.

Recognition of Merit: It is highly motivating for any person if his talent is recognized and is suitably rewarded. One way is providing them with salary commensurate with their   performance. Promotions and incentives based on performance are another way of  doing it. Another way is by providing them with challenging projects. This will achieve two objectives - it makes employee feel that he is considered important (a highly motivating factor) and gets the work done in an efficient manner and brings out the best in the employee.

Providing Learning Opportunities:  Employees must be provided with continuous c ontinuous learning opportunities on and off  work field through management development programs and distance learning  programs. This will also benefit the organization in the form of highly talented workforce.

Shielding from High Work Pressure:   If an organization has to make the most of the available talent, they should be  provided with adequate time to relax, so that they can did-stress themselves. It is very important to provide them with holidays and all-expenses-paid trips, so that they can come back refreshed to work and with increased energy. They must also be encouraged to pursue their interests which are also a good way of reducing work  environment stress. Recreation clubs, entertain programs, fun activities with in the work area will also reduce the work life stress of the employees and develop camaraderie among the workers and result in a good working environment.

Talent + Vision/Mission/Strategy +

Skills & Competencies + TALENT & PERFORMANCE Role & structure + Opportunity Organizations provide individuals the opportunity and space for physically + manifesting their talent into performance for individual and organizational Encouragement &achieving Recognition vision. Talent manifests into performance +as follows: Training & Development + Coaching + Action Plan & Goals + Resources Performance Management System Performance

Performance  

41

Thus the domain of talent management focuses not only on development of  individual’s intrinsic capacities, but also on culture building and change management to provide the other elements listed above for manifestation of talent into  performance.

The New HR Mission and Talent Management Processes Many challenging workforce issues confront HR, including: •

Heightened competition for skilled workers.



Impending retirement of the baby boomers.



Low levels of employee engagement.



Acknowledgement of the high cost of turnover.



Arduous demands of managing global workforces.



Importance of succession planning.



Off shoring and outsourcing trends.

This requires new thinking and a new mission to achieve business success. These factors—coupled with the need to align people directly with corporate goals—are forcing HR to evolve from policy creation, cost reduction, process efficiency, and risk management to driving a new talent mindset in the organization.

 

42 One important distinction is the evolution of the difference between tactical HR and strategic talent management. Transactional HR activities are administrative overhead. Talent management is a continuous process that delivers the optimal workforce for your business. In this new model—instead of being the owners of processes, forms, and compliance—HR becomes the strategic enabler of talent management processes that empower managers and employees while creating business value. With this view, talent management may be defined as the implementation of  integrated strategies or systems designed to improve processes for recruiting, developing and retaining people with the required skills and aptitude to meet current and future organizational needs. Anecdotally, talent management is often defined as performance management, incentive compensation, or talent acquisition. Talent management is also often confused with leadership development. Although leadership development is a crucial function of your organization, focusing on it exclusively is a legacy of last century. Our modern service and knowledge economies in the talent age require a  broad and holistic view. A high performance business depends on a wide range of  talent. Taleo’s graphical representation emphasizes the mandate of talent management to respond to business goals and consequently be the driver of business performance. Talent management is depicted as a circular—not a linear—set of activities.

5.4 Why Talent Management? Workforce cost is the largest category of spend for most organizations. Automation and analysis of your recruiting and hiring processes provides the immediate workforce visibility and insights you need to significantly improve your   bottom line. Performance management provides the ongoing processes and  practices to maintain a stellar workforce. Today, many organizations are struggling with silos of HR processes and technologies. The future of talent management is embodied in solutions designed from the ground up to provide business-centric functionality on a unified talent management platform.

Since nearly all competitive business factors have become commoditized, talent is what ultimately drives business success and creates value. Leading organizations organizations

 

43 rely on Taleo solutions and services to assess, acquire, develop, and align talent with business objectives while significantly reducing process costs, improving quality of hire, reducing risk, and achieving higher levels of performance. Though it may seem intuitive, it is worthwhile to articulate the fundamental significance of successful talent management practices: •

The key enabler of any organization is talent.



The quality of your people is your last true competitive differentiator.



Talent drives performance.

Talent management requires strong executive support, along with systems and  processes all directed towards having the right talent doing the right work at the right time. That’s when talent truly drives higher business performance.

Indirect implementation of Talent Management in Company Ltd., Nasik Works. By following Steps:

Performance appraisal  

Career Planning

 

Succession Planning

 

44

Training and Development

Chapter 6: Performance Appraisal

 

45

Chapter: 6 Performance appraisals 6.1 What is Performance Appraisal? Meaning: - Perfo Perform rmanc ancee ap appr prai aisal sal is a meth method od of ev eval alua uati ting ng th thee be beha havi vior or of  employees in the work spot, normally including both the quantitative and qualitative aspects of job performance. Performance here refers to the degree of accomplishment of the tasks that make up an individual‘s job. It indicates how well an individual is fulfilling the job demands. Often the term is confused with effort, but performance is always measured in terms of results and not efforts.

Need of Performance Appraisal:  -Performance appraisal is needed in order to:

(1) (1)

Pro Provid vides info inform rmat atio ion n abo about th thee per erfo form rman ance ce ra rank nks, s, ba basi sing ng on whic which h decision regarding salary fixation, confirmation, promotion, transfer and demotion are taken.

(2) (2)

Prov Provid idee feedb feedbac ack k infor informa matio tion n abo about ut the the leve levell of achi achiev evem ement ent and and beh behav avio ior  r  of subordinate. This information helps to review the performance of the subordinat subor dinate, e, rectifying rectifying performance performance deficiencies deficiencies and to set new standards of work, if necessary.

(3) (3)

Prov Provid idee info inform rmati ation on,, whic which h hel helps ps to to cou couns nsel el the the subo subord rdin inat ate. e.

(4) (4)

Prov Provid idee infor informa mati tion on to dia diagn gnos osee defici deficien ency cy in empl employ oyee ee regar regardi ding ng skil skill, l, knowledge, know ledge, determine determine training training and developmental developmental needs and to prescribe prescribe the means means for employ employee ee growth growth provid provides es inform informatio ation n for correct correcting ing  placement.

(5) (5)

To pr prev even entt gr grie ieva vanc nces es an and d in disci discipl plin inary ary activ activiti ities. es.

 

46

Purpose

Performance appraisal aims at attaining the different purpose. They are: (1) (1) To cr creat eatee and and main mainta tain in a sat satisf isfact actor ory y lev level el of pe perfo rform rman ance ce.. (2) (2)

To con contr trib ibut utee to the the empl employ oyee ee grow growth th and and dev develo elopm pmen entt thro throug ugh h train trainin ing g self and management development programs.

(3)

To help the super eriiors to have a proper under ersstan and ding about thei eir  r  subordinates.

(4) (4)

To gu guid idee the the job job cha chang nges es wit with h the the help help to to con conti tinu nuou ouss rank rankin ing. g.

(5) (5)

To faci facili lita tate te fair fair and and equi equita tabl blee compe compens nsati ation on base based d on perf perfor orma manc nce. e.

(6) (6)

To faci facili litat tatee for testi testing ng and and valid validat atin ing g select selectio ion n tests, tests, inte interv rvie iew w techn techniq ique uess through comparing their scores with performance appraisal ranks.

(7)

To provide information for making decisions regarding lat off, retrenchment etc.

(8) (8)

To ensu ensure re or orga gan nizat izatio iona nall ef effe fect ctiv ivee th thro rou ugh co corr rrec ecti ting ng empl employ oyee ee fo for  r  stan standa dard rd an and d impr improv oved ed pe perfo rform rman ance ce,, an and d sugg suggest estin ing g th thee ch chan ange ge in employee behavior.

6.2 Methods of Performance Appraisal:  The methods of performance Appraisal are basically classified as Traditional Methods, Modern Methods and result – Oriented Appraisal: a)

The The Trad Tradit itio iona nall Metho Methods ds cons consis ists ts of of ‘Gra ‘Graph phic ic Rat Ratin ing g Scal Scales es’, ’,’’ Rank Rankin ing g Method’,’ Metho d’,’ Paired comparison Method’, ‘Forced ‘Forced Distribution Distribution Method’, ‘Checklist method’, ‘Essay or free from APPRAISAL’, ‘Group Appraisal and ‘confidential Report’.

 b)

Modern Methods of evaluating performance appraisal are ‘Behaviorally Anch An chor ored ed Rati Rating ng Sc Scal ales es’, ’, Asse Assess ssm men entt Cent Center er’, ’, Huma Human n Reso Resour urce ce Accounting’, Management by objectives’, Psychology Appraisal’.

 

47

Uses of Performance Appraisals: Performance Improvement: Performance feedback allows the employee,

manager, and personnel specialists to intervene with appropriate actions to improve performance. Compen pensati sation on Adjust Adjustmen ments; ts; Perfor Performan mance ce evalua evaluatio tions ns help help  Com

decisio decisionnmakers determine who should receive pay raises. Many firms grant part or  all all of thei theirr pay pay incr increa ease sess an and d bonu bonuse sess ba base sed d up upon on meri merit, t, whic which h is determined mostly through performance appraisals.

Placement ent Decisions: Decisions: Promotion Promotions, s, transfers, transfers, and demotions demotions are usually usually  Placem  based on past or anticipated performance. Often promotions are a reward for past performance.  Training and Development; Poor performance may indicate the need for 

retraining. Likewise, good performance may indicate untapped potential that should be developed.  Career Planning and Development: Performance feedback guides career 

decisions about specific career paths one should investigate. 

Staffing Staffi ng Process Process Defici Deficienc encies: ies: Good Good and Bad perfor performan mance ce implie impliess strength or weakness in the personnel department‘s staffing procedures.

 Informational Inaccuracies: Poor performance may indicate errors in job

analysis information, human resource plans, or other parts of the personnel management information system. Reliance on inaccurate information may have led to inappropriate hiring, training, or counseling decisions. performance may be a symptom symptom of ill-conceived ill-conceived  Job Design Errors: Poor performance  job designs. Appraisals help diagnose these errors.

Equall Employm Employment ent Opportunity Opportunity:: Accurate Accurate performance performance appraisals appraisals that  Equa actually measure job – related performance ensure that internal placement decisions are not discriminatory. Extern ernal al Challe Challenge nges: s: Sometim Sometimes es perfor performan mance ce is influe influence nced d by factor  factor   Ext outside the work environment, such as family, financial, health, or other   personal matters. If uncovered through appraisals, the human resource department may be to provide assistance.

 

48 Feedback ack to Human Human Resources: Resources: Good/bad Good/bad Performance throughout throughout the  Feedb orga organi niza zati tion on indi indica cate tess how how well well th thee huma human n re reso sour urce ce fu func ncti tion on is  performing.

METHODS OF PERFORMANCE APPRAISAL

Traditional and modern Methods of Performance Appraisal

Traditional methods Methods

Modern

1) Graphic rating scales scales 2) Ranking Method 3) Paired comparison method

1) Behaviorally anchored rating

4) Forced distribution method method 5) Checklist methods method a) Simple Checklist b) Weighted checklist

4) Management by Objectives

2) Assessment centers 3) Human Asset accounting method

5) 360° Performance appraisal

 

c) Critical incident method  

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6.3 How implement performance appraisal. Introduction    Now a day’s Performance appraise is very important from company point of  view. It is use to take various managerial decision. E.g. decision regarding employee’s increment or decision regarding employee’s future career planning etc. In Company they use “Grading and Ranking “method to appraise performance of there employee.  

Who Appraise Performance appraise by Head of the department or from the superior. They did not conduct performance appraisal on officer’s level it conduct only In onCompany officer’s basis. Performance is appraising by head of the department, Supervisor, manager, etc.

Process: Head of the department submit one copy of performance appraisal to HR  Department and discuss with the employee whose performance is down. One copy of   performance appraisal report is attached to that employees personnel file as a record. If that employees performance is going down then head of the department can talk with that employee regarding increase performance. Even Hr Manager also should talk with that employee to know his problem and HR Manager should motivate that employee to increase performance. Employees increment is depend upon there performance. Head of the department or  HR manager may stop increment of employee regarding low performance.

 

50

General use of performance report in Any Company: Need of training.   Head of the department or HR manager can decide whether employee needs training for good performance or not.

Career Planning.   Career planning generally use to retain skilled employee. They can find out skilled employee for skilled employees career planning from performance appraisal report.

Succession planning: From performance appraisal Report Company can select candidate to make succession planning.

Benefits of employee to company  

Company’s employee are company’s asset, it is helpful to calculate that company’s employee how much give returns to company. Or which employee is  beneficial for company and which is not beneficial.

 

51

Chapter 7: Career Planning

 

52

Chapter: 7 Career Planning 7.1 Introduction and meaning Introduction The career is all the jobs that are held during ones working life. According to ‘E.B. Flippo’, career is a sequence of separate but related work activity’s that  provides continuity, order and meaning in a person’s life.

Definition: 1) Edwin Flippo define a career as a sequence of separate but related work  activities that provides continuity, order and meaning in a persons life. 2) Wreather and Davis defined various terms of career planning as given below: A career path is the sequential pattern of jobs that form a career (as per  figure). Career Planning is the process by which one selects career goals and the path to these goals. Career development is these personal improvements one undertakes to achieve a personal career plan.

3) Career management is the process of designing and implementing goals, plan and strategies to enable the organization to satisfy employee needs while allowing individuals to achieve their career goals.

Life and career Stages

 

53 Human resource managers must understand the issues that individuals face throughout their careers. A study of career development theories, life development theories and interrelationship among career stages and life stages will provide and understanding of the issues that the individual face. Career and life stages are closely related as both are linked to age and cultural norms.

Need for career planning Career planning is necessary due to following reasons

1) Attrac Attractt comp compet etent ent person person   To retain the competent person or to attract them company need career planning, because this kind of person are company’s asset. Competitors can try to hire this person so, company always try to retain these person.

2) Provide suitable promotional opportunities To give exposure for employee’s knowledge and talent, Career   planning is important.

3) Training for future challenges Enable employee to develop and make them ready to meet the future challenges. 4) reduce reduce job dissat dissatisf isfact action ion

It helps to increase job satisfaction for employee. When employee get exposure to show skill and when he learn more from job profile at that time job satisfaction automatically increase. 5) Improv Improvee motiva motivatio tion n and morale morale

Career Planning is useful to improve motivation and morale of  employees.

7.2 Process of Career Planning.

 

54

a) Analysis Analysis of individ individual ual skills, skills, knowled knowledge, ge, abilities, abilities, aptitudes aptitudes etc.  b) Analysis of career opportunities both within and outside of organization.

c) Analysis of career demand on the incumbent of skills, knowledge, abilities, aptitude, etc., and in terms of qualifications, experience and training received etc.

d) Relating specific ob to different career opportunities.

e) Establishment of realistic goals both short term and long term. f) Formulating career strategy covering areas of change and adjustment.

g) Preparing and implementing action plan including acquiring resources for  achieving goals.

Varies stages of career planning and development are shown in figure.

 

Successful Matching 

 

55

Mismatching

 

Advantage of Career planning and development For individuals

1) It helps to the individuals to have the knowledge of various career  opportunities, his priority’s etc.

2) It helps to select career which is suitable for his life styles, preferences, family environment, scope for self-development etc. 3) It helps the the organization organization identi identify fy internal internal employees employees who who can be promot promoted. ed. 4) Internal promotions, up-gradations and transfers motivate the employees;  boost up their morale and also satisfaction. 5) Increase job satisfactions enhance employee commitment and create a sense of   belongingness and loyalty to the organization. 6) Employee Employee will await await his turn turn of promoti promotion on rather than than changing changing to to another  another  organization. 7) It helps to improve improve employ employee ee performance performance on the job by taping taping their their potential potential abilities and further employee growth. 8) It satisfi satisfied ed emplo employe yeee esteem esteem needs needs..

For organization organization

1)

The efficient policies and practices improve the organization’s ability to attract and retain highly skilled and talent employees. A proper Career Planning ensures that the woman and people who 2)  belongs to the backward communities get opportunities opportunities for growth and development

3)

It continuously tries to satisfy the employee expectations and such as minimizes employee frustrations.

 

56

4)

By attracting and retaining the people from different cultures, enhances cultural diversity.

5)

Protecting employee’s interest result s in promoting organizational good will.

7.3 Implementation of Career Planning Career Planning is generally done by every organization. But method of career   planning can differ. career planning for company’s employee, as follows:

Activity for Career Planning: Training and development: Most of the time company can try to retain the skilled employee, therefore company provide various type of knowledge or training, for company  benefits as well as employee.

Transfer department to department or unit to unit If any employee would like to work in specific department or unit for  his skilled work and if it will beneficial for company then it’s also part of career   planning.

Promotion

 

57 In career planning, promotion is also a one part. To retain the skilled employee. Company makes promotion of this kind of employee.

☻Career planning at Officer’s levels: For career planning company refer report of Performance appraisal, from that report they sort out an employee whose performance is above expectations. For  this kind of employee they conduct career planning to retain that particular  employee. •

Analyze skill of worker: They analyze skill of worker by performance appraisal’s report, and then they decide career planning of employee.



Transfer of worker: They search about interest of employees in his work profile. And then they decide whether transfer of worker is suitable or not. Or change in work profile is suitable or not.

Promotion: They decide about employee’s promotion if required and his training They analyses whether training is required for employee or not. As per the need of organization HR head make his career planning for promotion.

Use of performance appraisal report: By Performance appraisal report, company can decide whether that employee should promote or not, They can study about employee’s job satisfaction, his job skills, his talent etc.

Job enrichment Most of the time company checks job enrichment of employee, to check  capacity of work within a given time as well as their skills also. Job enrichment is helpful to increase skills in employee.

7.4 Succession Planning

 

58

Introduction Success, growth and survival are the most important responsibilities of the top management of the organization. Succession planning is the activity connected with the succession of incumbents to fill the key positions in the organizations hierarchy as and when a vacancy arises. Succession planning focus on identification of vacancies and locating the probable successor. It provides the succession chart in respect of a particular position. The succession planning ensures the availability of the right kind of the management staff at the right time and in the right position in order to provide for  continued organizational vitality and strength.

What is Succession Planning? Succession planning is the systematic identification and professional  development of internal talent. Its goal is to cultivate internal human capital in  preparation for assuming leadership roles and other key positions that may may become vacant due to retirement, expected or unexpected separations. For Succession planning for management staffing plans are required to be developed properly on an individual basis for all anticipated needs in the immediate year a head and also for key positions. The business plans must be reviewed to determine there effects on managerial needs. Succession planning is one of the important functions of the top management. In fact the direct responsibilities of the chief executive and the top management group.

For Example: Suppose, Mr. A will retire within some days, from the post of “Production Manager” Then HR manager should place right person who will able to carry liability of that post. For selection of right person as well as to give idea about job to candidate, mostly HR Manager prepare planning, like: HR Manager will place candidate under supervision of Mr. A to learn difficult things of job, or he will give training to that candidate or he will search a candidate who already have idea about job profile of “Production Manager”, i.e. “Succession planning.” In short when any employee or candidates leave job, HR manager should  prepare plan to place correct candidate on that post.

What is need for succession planning: To make succession planning following points are important.

1) Job Job Inf Infor orma mati tion on 2) Jo Job b an analy alysi siss 3) Jo Job b profi rofile le 4) Qualif Qualificat ication ion and Exper Experien ience ce define. define. Etc. Etc. 5) Avai Availa labi bili lity ty of cand candid idate ate

 

59 6) Analy Analysis sis of Select Selection ion process process

Benefits of Succession planning: 1) Facilitates communication & knowledge management 2) Uninte Uninterrup rrupted ted work work prod product uctivi ivity ty 3) Leadership continuity

1) Custom designed training programs 2) Candid Candidate ate can unde underst rstand and job job easily easily.. 3)

Challenges of Effective Succession Planning   Successful succession planning, as we've seen, is an ongoing and complex endeavor that is necessarily broad in scope. It therefore presents significant barriers to  both implementation and long-term maintenance. Here are some of the more challenging obstacles: •

MULTIPLE OWNERS: 

Traditionally, HR has been considered owner of the succession planning  process, but meaningful success really requires a genuine sense of ownership and commitment at many levels of the organization. While HR may be best positioned to oversee the process, it can never fully know or evaluate every process  participant the way managers and supervisors can. •

NUMBER OF POSITIONS: 

All but the smallest of organizations have a substantial number of positions critical to long-term performance, whether these involve leadership skills or  technical expertise that would be difficult to quickly replace. Comprehensive succession planning must incorporate all such positions; yet, as the number of   positions grows so too does the administrative burden. •

STRATEGIC ALIGNMENT:

Succession plans need to reflect long-term organizational goals and strategies. Companies must give thoughtful consideration not only to the plan's design and implementation, but also to sustaining the process over time. As strategies and goals shift, so too must the plan if the organization is to recruit and develop the workforce its future success will require. •

ORGANIZATIONAL COMPLEXITY:

Conglomerate, geographically dispersed, multi-industry, and other complex organizational forms significantly increase the challenge of succession planning.

 

60 Often, higher-level positions require well-designed cross training to inculcate the unique knowledge and skills success in the organization requires. •

ORGANIZATIONAL CHANGE:

As companies evolve in response to marketplace threats and opportunities, the skills, talents, and expertise they will need to thrive evolve, as well.



EFFECTIVENESS & EFFICIENCY:

The larger and more complex an organization, the more challenging it is to maintain an effective and efficient succession planning process. Yet, by definition, the best process is the one that enables the firm to identify the best candidate in least amount of time and at the lowest cost.

Having this process in place is vital to the success of the organization because the individuals identified in the plan will eventually be responsible for ensuring the company is able to tackle future challenges. These 'high potential' candidates must be carefully selected and then provided training and development that gives them skills and competencies needed for tomorrow's business environment. Another reason its important is because these high potentials will one day become the leaders of the Company. This is why their development needs to incorporate a  broad range of learning opportunities in your your organization. The individuals should also be exposed to as much of the working environment as possible so that they gain a good understanding of what the company requires to remain successful.

7.5 Implementation of Succession Planning: Succession panning is the planning to place a person on another  employee’s place who will retire after one or two year. Succession planning is conduct in every organization. It is a part of Career   planning.

Officer’s level: At officer’s level Succession planning conduct by following methods.

1) Pe Pers rson onal al m mee eeti ting ng

 

61 Head of the department take the personnel meeting with the employee who is going to retire because he wants to know that employee’s opinion about to place new right candidate on his place.

2) Employee dialogue: Employee dialogue is a dialogue between employee (who will go to retire) and head of the department, regarding place new candidate at his post, which have ability to fulfill requirements of job.  

3) Opinion of subordinate: The head of the department should consider the opinion of  other staff or subordinate also.

Employee assessment centre Introduction   This method was first applied in Germany Army in 1930. Later business and industrial houses started using this method. This is not a technique of a  performance appraisal by itself. In fact it is a system or organization, where assessment of several individuals is done by various experts by using various techniques. In these approach, individual from various department are bought together to spend two or three days, working on an individual or group assignment similar to the ones they would be handling when promoted. Observers rank the  performance of each and every participant in order of merit. Since assessment centre are basically meant for evaluating the potential of candidates to be consider  for promotion, training and development, they offer an excellent means for a conducting evaluation process in an objective way. All assess get an equal opportunity to show their talent and capabilities and secure promotion based on merit. Since the evaluators know the position requirements intimately and are trained to perform the with evaluation process an objective manner, the performance rating may find favor majority of theinemployees. A considerable amount of  research evidence is available to support the contention that people chosen by this method prove better than those chosen by other methods. The centre enable working in a low status department to compete with people from well-known departments and enlarge there promotional chances. Such opportunities, when created on regular basis, will go a long way in improving the morale of promising candidates working in less important positions.

Employee assessment centre: Employee assessment is a committee of a Psychiatrist, advocate, consultant etc. there are 3 to 5 people on the committee. They give a one task to the

 

62 employee and he should complete that task within a given time e.g. Give a  presentation on specific topic within half an hour.

Work of the Committee: •

Mainly committee observes how employee can survive in specific situation. How he can handle situation.



They try to find out the tendency of employee.



They try to find out method of thinking of employee. In employee assessment they consider only an officers career planning.

 

63

Chapter 8: Training and Development

 

64

Chapter 8: Training and Development 8.1 Meaning and Definition Introduction After an employee selected, placed and introduced her or she must be  provided with training facilities. Training is the act of increasing the knowledge and skills of an employee for doing a particular job. Training is a short-term educational  process and utilizing a systematic and organized procedure by which employees employees learn technical knowledge and skills for a definite purpose. Dale S. Beach Define training, “The organized procedure by which people learn knowledge and/or skill for a definite  purpose.” In other words training improves, changes, moulds the employee’s knowledge, skill, behavior, aptitude, and attitude towards the requirements of the job and organization. Training refers to the teaching and learning activity carried on for  the primary purpose of helping members on an organization, to acquire and apply the knowledge, skills, abilities and attitudes needed by a particular job and organization. Thus, training bridges the difference between job requirement and employee’s  present specifications.

 No organisat5ion matches the candidate who exactly matches with the job and the organizational requirements. Hence, Training is important to develop the employee and make him suitable to the job. Job and organizational requirement are not static, they are changed from time to time in view of technological advancement and change in the awareness of the total quality and productivity Management(TQPM). The objective of the TQPM can be achieved only through training as training develops human skills and efficiency. Trained employees would be a valuable asset to an organization.

Benefits of training For organization •

• • • • • • •

Lead to prove profitability and/or more positive attitudes towards profit orientation Improves the job knowledge and skills at all level of the organization Improves the morale of workforce Helps people identify with organizational goal Helps create a better corporate image Aids in organizational development Learns from the trainee Helps to prepare guideline for work 

• •

Organization gets more effective decision making and problem solving It helps to improve labor-management relations.

 

65 Benefits to the individual which in turn ultimately should benefit the organization

Helps the individual in making better  decisions and effective problem solving Through training and development, • motivational variables of achievement, growth, responsibilities and •

advancement are internalized and operationised It helps to an individual to handle stress • tension or conflicts. It provides information to improve • leadership knowledge. Develops a séance of growth in learning • Improves morale • Improves impersonal skills •

8.2 Need for training  Need for training arises due to following reasons: 4) To match match the the employ employee ee specifi specificati cation on with with the job job recruitm recruitment ent and and organizational needs: An employee’s specification may not exactly suit to the requirement of the  job and the organization irrespective of his past experience, qualifications, skills knowledge, etc. Thus every management finds deviation between employee’s  present specifications and the job requirements and organizational needs. Training is needed to fill this gap by developing and molding the employee’s skill, knowledge attitude behavior etc. to the tune of the job requirements and organizational needs. 5) Tech Techno nolo logi gica call adva advanc nces es:: Every organization in order to survive and to be effective should adopt the latest technology, i.e. mechanization, computerization, automation. Adoption of the latest technology means and methods will not be complete until they are manned by employees possessing skill to operate them. So, organization should train the employee to enrich them in the areas of changing technical skills and knowledge from time to time. 6)

Hum Human re rela lati tion ons: s: Trends in approach towards personel management have change from the commodity approach to partnership approach, crossing the human relations approach. So, today, management of most of the organization has to maintain human relations besides maintaining sound industrial relations although hitherto the managers are not accustomed to deal with workers accordingly. So, training in human relations is necessary to deal with human problems and to maintain human relations.

7) Change in the job assignment:

 

66 Training is also necessary when the existing employee is promoted to the higher level in the organization and when there is some new job or  occupation due to transfer. Training is also necessary to equip the old employees with the advanced disciplines techniques or technology. The need for training also arises to: • • • • • • • •

Increase productivity Improve quality of the product / Services Help a company to fulfill its future personnel needs. Improve organizational climate. Improve health and safety. Prevent obsolescence Effect the personnel growth Minimize the resistance to change.

Stages in training as follows Stage 1

Assessment of training needs

Stage 2

Design the training program

Stage 3

Implementation.

Stage 4

Evaluation of training program.

 

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8.3 Methods of Training

Methods of training

On-job methods

Job relations Coaching Job instruction Training through Step by step Committee assignments Internship training

Off-job methods

Lectures/Conferences Films Simulation Exercise Cases Programmed instructions Audio visual methods Computer based training E-Learning.

The most widely used methods of training used by organizations are classified into two categories: On-the-Job Training & Off-the-Job Training. ON-THE-JOB TRAINING It’s given at the work place by superior in relatively short period of time. This type of training is cheaper & less time-consuming. This training can be imparted by basically four methods: Coaching It is learning by doing. In this, the superior guides his sub-ordinates & gives him/her job instructions. The superior points out the mistakes & gives suggestions for improvement. Job Rotation: In this method, the trainees move from one job to another, so that he/she should be able to perform all types of jobs. E.g. In banking industry, employees are trained for both back-end & front-end jobs. In case of emergency,

 

68 (absenteeism or resignation), any employee would be able to perform any type of   job. OFF THE JOB TRAINING: -

It is given outside the actual work place. Lectures/Conferences:-  

This approach is well adapted to convey specific information, rules,  procedures or methods. This method is useful, where the information is to be be shared among a large number of trainees. The cost per trainee is low in this method. Films: -

It can provide information & explicitly demonstrate skills that are not easily  presented by other techniques. Motion pictures are often used in conjunction with Conference, discussions to clarify & amplify those points that the film emphasized. Simulation Exercise: - 

Any training activity that explicitly places the trainee in an artificial environment that closely mirrors actual working conditions can be considered a Simulation. Simulation activities include case experiences, experiential exercises, vestibule training, management games & role-play. Cases:   Present an in depth description of a particular problem an employee might encounter on the job. The employee attempts to find and analyze the problem, evaluate alternative courses of action & decide what course of action would be most satisfactory. Experiential Exercises: -

Are usually short, structured learning experiences where individuals learn by doing. For instance, rather than talking about inter-personal conflicts & how to deal with them, an experiential exercise could be used to create a conflict situation where employees have to experience a conflict personally & work out its solutions. Vestibule Training: Employees learn their jobs on the equipment they will be using, but the training is conducted away from the actual work floor. While expensive, Vestibule training allows employees to get a full feel for doing task without real world  pressures. Additionally, it minimizes the problem of transferring learning to the  job.

 

69

Role Play:   It’s just like acting out a given role as in a stage play. In this method of  training, the trainees are required to enact defined roles on the basis of oral or  written description of a particular situation.

Management Games:   The game is devised on a model of a business situation. The trainees are divided into groups who represent the management of competing companies. They make decisions just like these are made in real-life situations. Decisions made by the groups are evaluated & the likely implications of the decisions are fed back to the groups. The game goes on in several rounds to take the time dimension into account. In-Basket Exercise: Also known as In-tray method of training. The trainee is presented with a  pack of papers & files in a tray containing administrative problems & is asked to take decisions on these problems & is asked to take decisions on these within a stipulated time. The decisions taken by the trainees are compared with one another. The trainees are provided feedback on their performance.

 

70

8.4 Implementation of training and Development: Method of training: Method of training is totally depending upon the profile of training. E.g. for  technical training if possible then they give on-job training otherwise company use method of off job training.

Procedure of training: Assessment of need of training:

It is the first step of training procedure. Head of the department and HR    department assess the need whether employee need training or not. They find employee who require training. Prepare budget for training:  

HR manager decide budget for training by considering its cost from the

market. And benefits for the company. Search for Internal or External trainer: Internal Trainer: After assessment of need of training, they search for a trainer in theirs company who can train there employee. They search trainer among their  employees. External trainer:

If they didn’t find internal trainer then they go for External trainer. They try to find external professional trainer from their personnel contact, by giving advertisement in news paper etc. Design program for training:   HR manager or head of the department present there need to trainer. They assess type of training and design training program by the help of trainer  within the budget. Report to head of the plant:   HR manager give the details about training to head of the plant and sanction the approval of training. Implementation: After designing the program for training, they implement in practical in

their employee.

 

71

 

72

Chapter 9: Collection, analysis & interpretation interpretatio n of data

Chapter: 9 Introduction of Data Analysis. The word Analysis means the process of breaking down a Complex set of facts into into simple simple element while while Interpretat Interpretation ion

stands for for the explanatio explanations ns which

analyzed the statements and also make out or bring out the meaning of creative work.  

 

73 Analysis and Interpretation are done according to department wise and according to questionnaire. This analysis and Interpretation will definitely help to the company for the future strategies. Following are the analysis and Interpretation of the results. These all analysis is imagine for general company. It is very necessary to understand the psychological tendency of employee. Because it is a quietly subjective so it will slightly deviate the opinion of the employee. The Departmen Departmentt of the company company where where I conduc conductt survey survey.. There There are 100 employees in each department. Total employees are 500. 1. Purchase 2. Finance 3. Production 4. Pack Packin ing g an and d disp dispat atch ch 5. Resea Research rch an and d Deve Develo lopm pmen entt

Table No 9.1

Survey in Purchase Department: Option

Responses Yes 70  No 30 (Source: Primary data: Questionnaire)

Percentage 70 30

 

74

Survey in Purchace Department Graph No 9.1

30%

 Ye  Y es

No

70%

 

Figure No. 9.1/7(Source: primary data survey questionnaire)

INTERPRETATION:   The above pie-diagram shows that 70% of employees of purchase department are

highly satisfied with the Talent Management process. Hence, we can say in Purchase department talent management is effective process for employee as well as organization.

Survey in Finance Department: Option Yes  No

Responses 72 28

(Source: Primary Data: Questionnaire)

Percentage 72 28

 

75

Survey in Finance Department

Graph No 9. 9.2 2

28%

 Yes

72%

Figure No. 9.2/7(Source: primary data survey questionnaire) INTERPRETATION:   The above pie-diagram shows that 80% of employee of finance department are

highly satisfied with the Talent Management process, 10%are satisfied, 6% are natural, 4%are dissatisfied. Hence, we can say in Finance department, talent management is effective process for employee as well as organization.

Survey in Production Department:

Option  No

Responses 65 35

Percentage 65 35

No

 

76

Survey in Production Department Graph No 9. 9.3 3

65%

Highlly Satisfied

Satisfied 35%

 

Figure No. 9.3/7 (Source: primary data survey questionnaire) INTERPRETATION: -

In Production department we can observe that 65% employee are answering ‘Yes’, they getting exposure exposure to show there talent in company. And 35% employees are answering ‘No’. means here, more than 60% employee answering ‘Yes’ means process of talent management is effective in this department.

Survey in packing and dispatch Department: Option

Responses

Percentage

Yes  No

86 14

86 14

 

77

Survey in packing and dispatch Department

86%  Yes

No

14%

 

Figure No. 9.4/7 (Source: primary data survey questionnaire)

INTERPRETATION: -

In Production department we can observe that 86% employee are answering ‘Yes’, they getting exposure exposure to show there talent in company. And 14% employees are answering ‘No’. means here, more than 60% employee answering ‘Yes’ means process of talent management is effective in this department.

Survey in Research and development Department: Option

Responses

Percentage

 

78

72 28

Yes  No

73 15

Survey in Research and development Department

72%  Yes

No

28%

Figure No. 9.5/7 (Source: primary data survey questionnaire) INTERPRETATION: -

In Production department we can observe that 72% employee are

 

answering ‘Yes’, they getting exposure exposure to show there talent in company. And 28% employees are answering ‘No’. means here, more than 60% employee answering ‘Yes’ means process of talent management is effective in this department.

Employee’s performance before implementing Talent Management concept: Department

Good

Bad

Purchase

61

39

Finance Production

52 62

48 38

 

79

R&D Dispatch

45 68

55 32

100% 90% Ba Bad d 80% 70%

Good

60% 50% 40% 30% 20% 10% 0% P urcha urchase se Fina Finance nce P rodu oduction ction R & D Dispa Dispatch tch

Figure No. 9.6/7(Source: secondary data average performance appraisal report of employee.)

Employ Em ployee’s ee’s per perform formance ance afte afterr im imple pleme mentin nting g Tal Talent ent Man Managem agement ent concept: Department

Good

Bad

Purchase

75 90 85 80

25 10 15 20

Finance Production R&D

 

80

Dispatch

70

30

100% 90%

Bad Bad

80% 70%

Good

60% 50% 40% 30% 20% 10% 0% P urcha urchase se Fina Finance nceP P roduct oductio ion n R & D Di Dispat spatch ch

Figure No. 9.7/7(Source: secondary data from average performance appraisal report of employee.)

INTERPRETATION: -

In above both diagram we can compare performance of all department, before implementing concept of talent management and after implementing concept of talent management. We can observe that, performance of all departments is increase after  implementing talent management concept.

Chapter 9: Conclusion and testing of  hypothesis

 

81

9.1 Testing of Hypothesis Talent Management has been developed as a platform for corporate world to manage talents of employee, for company benefits. Fr From om abov abovee surv survey eyss and and chan change gess in pe perf rfor orma manc ncee re repo port rt ge gett ttin ing g fo foll llow owss information:

For company talent management is effective process.

 

82

Tallent Ta ent m man anag agem emen entt iiss eeff ffec ecti tive ve fo forr Com Compa pany ny if:

Re Rem mar ark k ffro rom m “ Data ata o of  f  Analysis”  = Yes OR  X = No



Quality of the Product increase.





Rati Ra tio o of emplo employ yees to left left jo job b is de decre crease ase,, an and d ne new w





candidate are increase in organization. Employee getting satisfaction from the job





Complaints of employee reduced.



Above table show that all the criteria set for Company, to show effective talent management process, which is helpful to employee as well as organization. Therefore project is proved the its Null hypothesis & disprove the alternative hypothesis.

Null Hypothesis:  Employee taking benefits from Talent Management System  Employee can retain successfully for the benefit of organization  Employee’s performance increased by talent management  Employee turnover of organization affected by Talent Management Procedure

Conclusion Talent Management for the HR Community is an opportunity for HR professionals to develop in their areas of expertise and in their careers. A strong HR Community helps create a strong public service. The goal of talent management is to better  understand our people in the HR Community so we can support professional and career development and align individual needs and goals with the business focus of  HR. We also want to ensure that we as a Community have the agility to develop

 

83  people so that we are meeting the future needs of the community and government government and our clients. This first broad sweep of the Community provides a foundation on which to ensure leadership continuity, knowledge transfer and service continuity. The initial implementation resulted in a number of important human resource priorities and strategies, such as performance management, leadership and management development, attraction and retention, employee learning and development and culture, all of which are supported by the HR Strategy for the HR Community. The critical next step in the process is the implementation of the Talent Management Plan for the HR Community. Individually, members of the community and their  managers should work together to move forward individual career development plans. The HR Community must work together to promote a talent management mindset, commit to supporting development as a professional group, and integrate talent management into the daily fabric of doing business. 1) Rec Recruitm uitmeent

We understand it help to ensuring the right people are attracted to the organization.  2) Retention 

We understand it help to developing and implementing practices that reward and support employees. 3) Employee development 

Talent Management ensuring continuous informal and formal learning and development. 4) Performance management 

Talent Management is specific processes that nurture and support  performance, including feedback/measurement. 5) Workforce planning

It use to make planning for business and general changes, including the older  workforce and current/future skills shortages.

Chapter 10: Suggestion and recommendation

 

84

Chapter 10: Suggestion and Recommendation

1) Organization should make research to avoid talent drain. should interact and expose inbound employee employee 2) HR Department should

 

85

3) Perform various task to motivate employee for work, because various employee can not work with motivation they just do it, because organization pay for them.

Chapter 11: Appendices

 

86

(In this project following form are prepare for survey. )

Company Workshop

Name of Employee:

Roll No.

Department:

 

87

Designation:

Joining Date:  

Qualification:

Questionnaire: 1) Do you feel satis satisfact faction ion while while you comple complete te your your work? work?

Yes

No

2) Can you you comp complet letee your your work work within within a time time? ?

Yes

No

3) Can you you perf perform orm work work with with inter interest est? ?

Yes

No

4) At any any time do you you feel feel that that you wasting wasting your your time? time?

 

88

Yes

No

5) Anywhere Anywhere do you you feel feel that, that, you doing a bullock bullock work? work?

Yes

No

6) Do you you feel feel that that you select select wrong wrong field field to to work? work?

Yes

No

Any other feedback or suggestions by employee:

Chapter 11: Bibliography I am overwhelmed in presenting my summer project report in Company LTD, Nasik works for this I wish to express my deep sense of gratitude for  following web sources and authors to take there references for these project.

Books:

1) Human Capital Capital Manage Management ment ----- Garry Desslar (P 542) 2) Human Resource Resource Managemen Managementt ---- Himalaya Himalaya Publicat Publications ions (P 386) 3) Human Resource Resource Managemen Managementt --- Oxford Oxford Higher Higher educati education on ( p74) p74) 4) Human Resour Resource ce Management Management System System ----- Prof. Prof. Mr. Subbar Subbarao ao (P, 243) 243)

 

89

Web Sources:

1) Onec Onecli lick ckhr hr.c .com om 2) Weck Weckip iped edia ia.c .com om 3) Goo Google. gle.co com m 4) Redd Reddif iff. f.co com m

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